Cabinet: 14 steps remain to remove SA from greylist
Acting minister in the Presidency, Maropene Ramokgopa, says South Africa is making significant progress in addressing grey-listing concerns with the Financial Action Task Force.
Key reforms include enhancing anti-money laundering and counter-terrorism financing frameworks, improving regulatory enforcement, and increasing financial transparency.
Ramokgopa briefed the media on the outcomes of the Cabinet meeting on Wednesday.
She said 15 of 20 technical compliance requirements are now fully met.
READ: Removing SA from greylist will take time, warns economist
"There has been significant progress for South Africa to address technical compliance deficiencies, and of the 20 technical compliance requirements, 15 have been fully addressed.
"For South Africa to completely exit the greylisting had 22 actions identified as deficiencies on effectiveness, of which eight of these items have been fully addressed, leaving 14 items to be addressed by February 2025.
"Cabinet takes notes of complexities of the nature of issues to be addressed, but remains committed to ensuring that efforts are heightened to address the remaining actions, and also takes note that South Africa’s efforts are yielding better outcomes compared to the well-developed countries like United States of America, which is still heading behind South Africa."
Find us on social media
Follow the ECR Newswatch WhatsApp channel here
